BTIG Research slashes price target on Mereo Biopharma Group Plc ADR [MREO] – find out why.

Mereo Biopharma Group Plc ADR [NASDAQ: MREO] slipped around -0.31 points on Wednesday, while shares priced at $3.19 at the close of the session, down -8.86%. The company report on March 5, 2024 at 7:30 AM that Mereo BioPharma to Participate in Fireside Chat at the Leerink Partners Global Biopharma Conference.

A live audio webcast of the presentation can be accessed through the Investors section of the Company’s website at www.mereobiopharma.com/investors. An archived replay of the webcast will be available on the Company’s website for two weeks following the live event.

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Compared to the average trading volume of 1.65M shares, MREO reached a trading volume of 3445293 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Mereo Biopharma Group Plc ADR [MREO]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MREO shares is $5.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MREO stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BTIG Research have made an estimate for Mereo Biopharma Group Plc ADR shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 13, 2023. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on August 12, 2022, representing the official price target for Mereo Biopharma Group Plc ADR stock. Previously, the target price had yet another raise to $10, while BTIG Research analysts kept a Buy rating on MREO stock.

The Average True Range (ATR) for Mereo Biopharma Group Plc ADR is set at 0.26, with the Price to Sales ratio for MREO stock in the period of the last 12 months amounting to 46.59. The Price to Book ratio for the last quarter was 5.58, with the Price to Cash per share for the same quarter was set at 0.42.

How has MREO stock performed recently?

Mereo Biopharma Group Plc ADR [MREO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.48. With this latest performance, MREO shares dropped by -17.99% in over the last four-week period, additionally plugging by 127.86% over the last 6 months – not to mention a rise of 269.21% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MREO stock in for the last two-week period is set at 35.88, with the RSI for the last a single of trading hit 25.94, and the three-weeks RSI is set at 42.67 for Mereo Biopharma Group Plc ADR [MREO]. The present Moving Average for the last 50 days of trading for this stock 3.46, while it was recorded at 3.49 for the last single week of trading, and 2.03 for the last 200 days.

Mereo Biopharma Group Plc ADR [MREO]: Deeper insight into the fundamentals

Mereo Biopharma Group Plc ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.11 and a Current Ratio set at 3.11.

Insider trade positions for Mereo Biopharma Group Plc ADR [MREO]

The top three institutional holders of MREO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MREO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MREO stock with ownership which is approximately 5.8325%.